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We kick off the first of a three-part series on crucial financial reports that can transform a law firm’s profitability from RJon’s boat, “The Office”. This episode demystifies financial controls which many lawyers unnecessarily over-complicate. Instead, we focus on the four reports every law firm owner should look at, and most importantly understand, each month.
Set against the backdrop of Miami’s scenic coastline and an approaching storm, RJon offers a uniquely engaging perspective on mastering law firm finances. His straight-forward, no-nonsense style breaks down the value of monthly financial reports without resorting to complex math. Lean in and listen as RJon makes sense of the data your bookkeeper sends each month in a way that’s both accessible and actionable.
“If I only had one financial report to look at every month, I would look at my Budget Variance Report. “
– RJon Robins
Key Takeaways
- RJon’s insights on interpreting and acting on financial data
- The four reports every law firm owner should review each month:
- 12 Month Forward Looking Budget
- Cash Flow Projection
- Budget Variance Report
- Work in Process (WIP)
- How these reports can prevent cash crunches and improve profitability
Links Mentioned
– Page 111 in the Profit First for Lawyers book
– Ep 45: Secrets To Bookkeeping That Does Not Suck with Sherri Mansell
– Profit First for Lawyers curated resource page
– Leave us a review on Apple, Spotify, Audible or wherever you listen to your favorite podcasts
– Buy your copy of Profit First for Lawyers
Connect and Engage
- Subscribe to the podcast
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- Email us your feedback at podcast@profitfirstforlawyers.com
- Order your copy of Profit First for Lawyers today! https://htm.live/PF4L-Book-1
